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View on market: Stay Cautious, be with quality business:

Stocks in Asia retreated Tuesday amid rising US-China tension over Taiwan and worries about a global economic slowdown. Shares dropped in Japan, South Korea and Australia after S&P 500 and Nasdaq 100 futures fell after July’s global stock market rebound stumbled into August. US House Speaker Nancy Pelosi is expected to visit Taiwan on Tuesday. She would become the highest-ranking American politician to visit the island in 25 years. At 7:00 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — traded 0.20% higher at 17,200 points.

Economic Calendar:

  • USD : JOLTs Job Openings (Jun) 02nd Aug, 2022
  • USD : ISM Non-Manufacturing PMI (Jul) 03rd Aug, 2022
  • INR : Trade Balance 02nd Aug, 2022
  • INR : Interest Rate Decision 05th Aug, 2022

Q1FY23 Result Today: Adani Green, Bank of India, Bosch Ltd., Shyam Metalics & Energy Ltd., Siemens, Star Cements, Voltas, Zee Learn, Lemon Tree Hotels, Godrej Properties, Indus Towers

Q1FY23 Result:

ITC Q1 FY23 (Consolidated, YoY) recorded a 38.3% YoY growth in standalone profit at Rs 4,169.4 crore for the quarter ended June 2022, on strong topline and operating performance. Revenue grew by 41.4% YoY to Rs 18,320 crore during the June FY23 quarter with growth across segments. EBITDA surged 41.5% YoY to Rs 5,647.2 crore in Q1FY23.

Escorts Kubota Q1 FY23 (Consolidated, YoY) recorded 21.2% YoY decline in consolidated profit at Rs 140.6 crore for the quarter ended June 2022, dented by higher input cost. Revenue grew by 19% to Rs 2,032 crore during the same period.

Kansai Nerolac Paints Q1 FY23 (Consolidated, YoY) reported a 36.5% YoY growth in consolidated profit at Rs 152 crore in the quarter ended June 2022 despite sharp increase in input cost, supported by operating performance and topline. Revenue grew by 46% YoY to Rs 2,051.40 crore during the same period.

Zomato Q1 FY23 (Consolidated, YoY) posted consolidated loss at Rs 186 crore for the quarter ended June 2022, which narrowed compared to loss of Rs 360.7 crore in Q1FY22 and loss of Rs 360 crore in Q4FY22. It was backed by other income that more than doubled to Rs 168.1 crore from Rs 72.2 crore YoY. Revenue grew by 67.4% YoY and 16.67% QoQ to Rs 1,413.9 crore.

Brokerage Radar:

JPM ON ESCORTS: JPM on Escorts; Downgrade to Neutral, TP cut to Rs 1565 from Rs 1800; Weak margins & continued market share pressures; Cut FY23E-25E EPS by 4-13%; Co likely to present its mid-term plan in Sept/Oct; Stk could find support due to its strong cash position (c20% of M Cap).

JPM ON ITC: OW, TP Raised to Rs 350; 1Q beat; firing on all cylinders; Cig EBIT growth at 29% y/y led by vol recovery, share gains, & improved market mix; Non-FMCG divisions– Paper, Hotel & Agri– clocked highest ever qtrly rev along with healthy EBIT growth

CLSA ON UPL: Buy, TP cut to Rs 1000 from Rs 1100; 1Q ahead of est.; All geographies reported rev above forecasts, except India; FY23 rev/Ebitda growth guidance raised; reduction in net debt key; Tangible debt reduction most important lever to stock rerating

International Markets:

U.S & Europe:

Particulars      01st August Chg. Chg.(%)
Nasdaq 12368.98 -21.71 -0.18
Dow 32798.4 -46.73 -0.14
FTSE 7413.42 -10.01 -0.13
CAC 6436.86 -11.64 -0.18
DAX 13479.63 -4.42 -0.03
Dow Fut.* 32698.5 -99.9 -0.3

Asian markets:

Particulars      02nd August Chg. Chg.(%)
SGX Nifty 17306 -87 -0.5
Nikkei 27549.4 -443.94 -1.59
Straits Times 3240.29 1.54 0.05
Hang Seng 19571.5 -594.34 -2.95
Shanghai 3177.18 -82.78 -2.54

ADR Watch:

Particulars       01st August Chg. Chg.(%)
Dr. Reddy 51.48 0.37 0.72
HDFC Bank 63.08 0.28 0.45
ICICI Bank 20.73 -0.1 -0.24
Infosys 19.62 0.13 0.67
Tata Motor 30.58 2.06 7.22
Wipro 5.36 0.06 1.13

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.02 -0.29
Brent 98.77 -1.26
Gold 1791.20 0.20
Silver 20.255 -0.53

FIIs & DII:

Particulars 01st August 29th July
FIIs     2320.61 1046.32
DIIs     -822.23   -0.91

News Update:

Pfizer: has received Rs 180.48 crore from Mylan after it has transferred Upjohn business comprising of six brands which included Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin along with related business assets and liabilities to Mylan.

Eicher Motors: sold 5,982 units in the commercial vehicle segment in July 2022, up 40.1% compared to 4,271 units sold in same month last year, with domestic sales increasing 51% to 5,360 units but exports fell 22% to 501 units in the same period.

TVS Motors: registered a growth of 13% in July 2022 with sales of 3.14 lakh units as against 2.78 lakh units sold in July 2021, with two-wheeler sales growing 14% to 2.62 lakh units and total exports rising 9% to 1.12 lakh units during the same period.

 Source: Moneyontrol, Livemint,, Bloomberg, Investing

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